SWIFT Module 7.1 SP10.July 2020 | Package Services | WmFIN Package Services | wm.fin.sepa Folder | wm.fin.sepa:checkOperationalReadiness
This service validates a BIC's operational readiness to ensure that a BIC is ready to receive SEPA payment instructions for a particular scheme, as follows:
1. Splits the BIC into a BIC code (the first 8 characters) and a branch code (characters 9 to 11). If the branch code is empty, substitutes it with XXX.
2. Searches the data file with the BIC code, branch code, service level (for example, SEPA), and scheme instrument.
3. If no record is found for a specific branch code, it repeats the search with XXX in the branch code.
4. If at least one record is found with an operational readiness date older than the current date, and with an active validity period, the BIC is ready to accept payment instructions for the service level/scheme instrument and can receive payment instructions through the payment channel(s).
If no record is found, you must investigate manually to validate that the counterpart bank is ready to accept SEPA payment instructions.
Input Parameters
String BIC code of the financial institution.
String The SEPA service level.
String The scheme instruments within the SEPA service level for which data is collected and published.
Output Parameters
String Specifies if the input BIC code is operationally ready for the input scheme. Valid values are true and false.
String Specifies the reason if isReady is false.
String Specifies the error message if an error occurs.
String Specifies whether an error occurred. Valid values: yes and no.